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Shareholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Company's Common Stock Repurchases Made on Open Market

The following table provides information with respect to repurchases of the Company’s common stock made on the open market:

Year Ended	Average Price Paid Per Share		Total Number of Shares Repurchased		Dollar Value of Shares Repurchased
	(in thousands, except per share data)
December 31, 2021	$	412.25		339	$	139,580
December 31, 2020	$	291.76		2,493	$	727,344
December 31, 2019	$	147.97		690	$	102,081

Schedule of Cash Dividends Declared and Distributed Per Common Share

The following table presents dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated

	Dividends
	Per Share		Declared		Distributed		(Released)/ Deferred
2021	(in thousands, except per share data)
Three Months Ended March 31,	$	0.78	$	65,947	$	66,153	$	(206	)
Three Months Ended June 30,		0.78		64,863		64,489		374
Three Months Ended September 30,		1.04		86,476		85,961		515
Three Months Ended December 31,		1.04		86,475		85,973		502
Year Ended December 31,	$	3.64	$	303,761	$	302,576	$	1,185
2020
Three Months Ended March 31,	$	0.68	$	59,233	$	59,455	$	(222	)
Three Months Ended June 30,		0.68		57,360		57,068		292
Three Months Ended September 30,		0.78		65,830		65,454		376
Three Months Ended December 31,		0.78		65,029		64,653		376
Year Ended December 31,	$	2.92	$	247,452	$	246,630	$	822
2019
Three Months Ended March 31,	$	0.58	$	55,339	$	57,988	$	(2,649	)
Three Months Ended June 30,	0.58			49,613		49,365		248
Three Months Ended September 30,	0.68			58,176		57,882		294
Three Months Ended December 31,	0.68			58,176		57,916		260
Year Ended December 31,	$	2.52	$	221,304	$	223,151	$	(1,847	)

Summary of Activity Related to Shares of Common Stock Issued and Repurchased

The following table presents activity related to shares of common stock issued and repurchased for the periods indicated:

	Common		Treasury			Common Stock
	Stock Issued		Stock			Outstanding
Balance At December 31, 2018		130,029,926		(45,855,788	)		84,174,138
Dividend payable/paid		1,064		(585	)		479
Common stock issued and exercise of stock options		2,387,145		—			2,387,145
Shares withheld for tax withholding		—		(1,077,815	)		(1,077,815	)
Shares repurchased under stock repurchase programs		—		(689,891	)		(689,891	)
Shares issued to Directors		1,277		(403	)		874
Balance At December 31, 2019		132,419,412		(47,624,482	)		84,794,930
Dividend payable/paid		553		(337	)		216
Common stock issued		406,960		—			406,960
Shares withheld for tax withholding		—		(165,239	)		(165,239	)
Shares repurchased under stock repurchase programs		—		(2,492,994	)		(2,492,994	)
Shares issued to Directors		2,250		27,284			29,534
Balance At December 31, 2020		132,829,175		(50,255,768	)		82,573,407
Dividend payable/paid		268		(156	)		112
Common stock issued		331,427		—			331,427
Shares withheld for tax withholding		—		(133,431	)		(133,431	)
Shares repurchased under stock repurchase programs		—		(338,577	)		(338,577	)
Shares issued to Directors		1,308		5,203			6,511
Balance At December 31, 2021		133,162,178		(50,722,729	)		82,439,449

Summary of Share-based Compensation Expense

The following table presents the amount of share-based compensation expense by category for the periods indicated:

	Years Ended
	December 31,		December 31,		December 31,
(in thousands)	2021		2020		2019
Cost of revenues	$	17,285	$	14,523	$	11,190
Selling and marketing		14,411		13,545		14,943
Research and development		7,913		7,344		5,966
General and administrative		17,463		19,826		11,991
Other expense (income)		1,416		379		—
Total share-based compensation expense	$	58,488	$	55,617	$	44,090

Summary of Fair Value of PSUs on the Award Dates Estimated Under the Monte Carlo Method Assumptions

The fair value of the PSUs on the award dates were estimated under the Monte Carlo method using the following assumptions:

	Years Ended
	December 31,			December 31,			December 31,
	2021			2020			2019
Risk free interest rate		0.33	%		1.28	%		2.46	%
Historical stock price volatility		34.13	%		25.42	%		21.98	%
Term (in years)		4.0			3.8			3.7
Discount of Lack of Marketability		4.0	%		0.0	%		0.0	%

Summary of Vested and Unvested Share-Based Awards Activity

The following table presents activity concerning the Company’s vested and unvested Share-based Awards applicable to its employees (share data in thousands) for the period indicated:

				Weighted
				Average
				Grant
	Number of			Date Fair
For the Year Ended December 31, 2021	Shares			Value
Vested and unvested Share-based Awards at December 31, 2020		739		$	163.99
Granted		330		$	265.99
Conversion to common stock		(340	)	$	153.66
Canceled		(32	)	$	274.66
Vested and unvested Share-based Awards at December 31, 2021 ⁽¹⁾		697		$	217.05

⁽¹⁾	As of December 31, 2021, 639 Share-based Awards, with a weighted average grant date fair value of $213.70, were vested or expected to vest.

Summary of Unvested Share-Based Awards Activity

The following table presents activity concerning the Company’s unvested Share-based Awards related to its employees (share data in thousands):

				Weighted
				Average
				Grant
	Number of			Date Fair
For the Year Ended December 31, 2021	Shares			Value
Unvested Share-based Awards at December 31, 2020		727		$	164.58
Granted		293		$	268.91
Vested		(318	)	$	156.41
Canceled		(32	)	$	274.66
Unvested Share-based Awards at December 31, 2021		670		$	217.05

Unvested Share-based Awards expected to vest		612		$	210.15